US company Emerson is to buy the Valves & Controls business of Pentair for $3.15bn.
The acquisition is in line with Emerson’s strategic plan to expand its automation business.
Emerson chairman and chief executive David N. Farr said: “By adding Pentair’s Valves & Controls leading technologies and services to our already broad portfolio, we have positioned our businesses to grow while continuing to provide our customers around the world with more complete solutions to their toughest challenges.”
“The Pentair Valves & Controls business is a strong fit for us as they share many of the same management principles that have defined success for Emerson over the years such as global customer support, service, best cost sourcing and manufacturing,” said Mike Train,
Emerson Automation Solutions’ business leader Mike Train added that the acquisition “will allow us to expand our market position and create new opportunities for growth, while also being able to offer our customers the most complete valve solutions portfolio and most extensive service network in the world.”
The deal is expected to be closed by the end of the year subject to various regulatory approvals.